Cory Zeidman Pleads Guilty to Sports Betting Fraud Scheme
Former WSOP bracelet winner Cory Zeidman has admitted guilt in connection to a $25 million sports betting fraud scheme. The 64-year-old poker pro, who was once celebrated in the poker community, has now become a cautionary tale of deception and greed. His involvement in this large-scale operation exploited vulnerable individuals seeking insider tips on sporting events.
Details of the Fraud
Zeidman’s scheme, operational between 2004 and 2020, revolved around fraudulent claims of having “privileged” information on sports outcomes. These false promises, primarily advertised via radio commercials, lured victims by guaranteeing substantial returns on their investments. However, most of these so-called insider tips were fabricated or drawn from publicly available information.
Clients paid hefty fees under the impression that they were engaging in secure betting opportunities. Instead, they were systematically defrauded, with the operation generating millions of dollars for Zeidman and his associates.
The Investigation and Guilty Plea
In May 2022, Zeidman’s fraudulent activities came to light when he was arrested. Initially maintaining his innocence, he even quoted Friedrich Nietzsche, portraying himself as a victim of overzealous authorities. Despite his declarations of moral integrity, mounting evidence led him to plead guilty in October 2024 to charges of conspiracy and wire fraud.
The plea was entered in the United States District Court for the Eastern District of New York, marking a significant shift in his defense strategy. His legal team acknowledged the overwhelming evidence against him, leaving no viable alternative.
Sentencing and Fallout
While sentencing has yet to be finalized, Zeidman faces a potential 20-year prison term and restitution payments amounting to $3.6 million. His arrest and subsequent plea have not only tarnished his reputation in the poker world but also ended his career as a respected player. He has since refrained from participating in live tournaments, though reports suggest he continues to play in smaller cash games in Florida.
Zeidman’s case underscores the dangers of greed and deceit, even in a community as tight-knit as the poker world. His fall from grace serves as a reminder of the importance of ethical conduct both at and away from the tables.
For more updates on this case and other poker-related news, stay tuned to PokerNews.
FAQ
What were the original rules and betting options for roulette?
What were the original rules and betting options for roulette? The original rules and betting options for roulette were relatively simple. The game featured a spinning wheel with numbered pockets, typically ranging from 1 to 36. The early versions of the game also featured a single zero pocket, which gave the house a slight edge. In some variations, there was also a double zero pocket, which further increased the house edge.
Zap Lice Fast: Top Treatments That Actually Work
Hey there, dealing with lice can be super annoying, but the good news is there are effective treatments out there. For head lice, permethrin 1% lotion—like in brands such as Nix or Peditox—is often the top pick because it kills live lice and nits with just one or two applications, seven to ten days apart. Studies show it works for about 70-80% of cases when used right. If permethrin doesn’t cut it, try ivermectin 0.
Unlock Prolines Collagen Power: Heal Faster Now!
Hey there! Ever wondered what proline is all about? It’s a key amino acid your body makes from glutamate, and it makes up about 30% of collagen—the protein that keeps your skin bouncy and joints strong. Think of it as the building block for healthy tissues, especially when you’re healing from cuts or workouts. Proline shines in wound healing by ramping up collagen production right where you need it. For example, after a scrape, it helps skin cells rebuild faster, cutting recovery time.
Can I play OLG Pools online?
POOLS Online and POOLS In-Store share the same prize pool and overall game structure but there are some notable differences. When playing POOLS Online you can: Complete the entire betting transaction online, rather than bringing a paper selection slip or online-generated barcode to be scanned in-store.
What is the future of the game of roulette?
What is the future of the game of roulette? One potential future for roulette is the integration of virtual and augmented reality technologies. This would allow players to immerse themselves in a virtual casino environment and enjoy a more realistic and engaging gaming experience. Another potential future for roulette is the continued growth of online gaming. As more and more people turn to the internet for their gaming needs, online casinos are likely to become even more popular.
PROLINE+ allows you to bet on sports online, using your olg.ca account, with single event betting, dynamic competitive odds, live betting & more. Visit our website for more information!
This site only collects related articles. Viewing the original, please copy and open the following link:Cory Zeidman Pleads Guilty to Sports Betting Fraud Scheme
